Key Takeaways
- • Standard Chartered launched a crypto trading solution letting eligible affluent clients buy and sell Bitcoin (BTC) and Ether (ETH) directly through existing bank accounts, a global first for the bank and the first offering of its kind by an international bank in the UAE.
- • The service is regulated by the Virtual Assets Regulatory Authority (VARA), which granted the bank a licence, and is initially open to Professional Investor clients in the UAE, with expansion to other markets planned over time.
- • Custody and settlement are handled within the bank under a closed-loop model, removing the need for separate wallets or third-party platforms and reducing exposure to third-party wallet risk.
- • The launch is built on a collaboration between the Wealth and Retail Banking (WRB) and Corporate and Investment Banking (CIB) businesses, with SC Ventures-backed Zodia Markets providing infrastructure.
- • The bank already offers crypto ETF access through its cash equities platform, plus crypto exposure via structured products and OTC derivatives, so this launch extends an existing digital assets proposition.
Summary
Standard Chartered has launched a cryptocurrency trading solution that allows affluent clients to access digital assets through its own platform. The bank said the launch is a global first for Standard Chartered and the first offering of its kind by an international bank in the UAE. According to the bank, digital assets are increasingly being considered by affluent and high-net-worth investors as part of diversified portfolios, supported by greater regulatory clarity and institutional adoption.
Eligible affluent clients can buy and sell Bitcoin and Ether directly through their existing Standard Chartered bank accounts, without separate wallets or third-party platforms. The bank manages end-to-end custody and settlement through a closed-loop model. The solution is enabled through a strategic collaboration between the Wealth and Retail Banking and Corporate and Investment Banking businesses, alongside SC Ventures-backed Zodia Markets, and is regulated by the Virtual Assets Regulatory Authority (VARA), which has granted the bank a licence in the UAE.
The offering will first be available to Professional Investor clients in the UAE, with plans to expand to other markets over time. Samir Subberwal, Global Head, Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, said client interest in digital assets is growing and that the launch marks a significant milestone as the bank brings digital assets into its core wealth offering. Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, said the UAE was a natural choice given its regulatory environment and its role as one of the bank's four global wealth hubs.
The launch builds on existing capabilities, including access to cryptocurrency ETFs through the bank's cash equities trading platform and exposure through structured products and OTC derivatives. The broader proposition spans digital asset custody, trading and tokenisation, complemented by the bank's ventures ecosystem through Zodia Markets and Libeara.
Eligible affluent clients can buy and sell Bitcoin and Ether directly through their existing Standard Chartered bank accounts, without separate wallets or third-party platforms. The bank manages end-to-end custody and settlement through a closed-loop model. The solution is enabled through a strategic collaboration between the Wealth and Retail Banking and Corporate and Investment Banking businesses, alongside SC Ventures-backed Zodia Markets, and is regulated by the Virtual Assets Regulatory Authority (VARA), which has granted the bank a licence in the UAE.
The offering will first be available to Professional Investor clients in the UAE, with plans to expand to other markets over time. Samir Subberwal, Global Head, Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, said client interest in digital assets is growing and that the launch marks a significant milestone as the bank brings digital assets into its core wealth offering. Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, said the UAE was a natural choice given its regulatory environment and its role as one of the bank's four global wealth hubs.
The launch builds on existing capabilities, including access to cryptocurrency ETFs through the bank's cash equities trading platform and exposure through structured products and OTC derivatives. The broader proposition spans digital asset custody, trading and tokenisation, complemented by the bank's ventures ecosystem through Zodia Markets and Libeara.
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